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Barbados
Caribbean
Lucky Nomads World Index
67.85 / 100
Global rank
#82
Corporate tax
9%
Personal tax
28.5%
Lucky Nomads Proprietary Indices
22 scoring dimensions scored independently using a deterministic methodology built on primary sources and structured analytical inference.
- SafetyShield Index6.5 / 10
- Affordability Index5.3 / 10
- Entry Ease Index7.7 / 10
- Tax Freedom Index6.6 / 10
- WiFi Index7.2 / 10
- Admin Ease Index7.4 / 10
- Healthcare Index7.9 / 10
- City Comfort Index7.9 / 10
- WeatherComfort Index6.6 / 10
- Banking Index7.6 / 10
- GeoStability Index8.8 / 10
- Justice & Order Index7.3 / 10
- Quality of Life Index7.9 / 10
- Open Society Index7.6 / 10
- Flight Index4.5 / 10
- Environmental Quality Index8.0 / 10
- English Index8.8 / 10
- Wealth Protection Index8.1 / 10
- AI Access Index5.5 / 10
- Economic Openness Index6.4 / 10
- Market Depth Index4.2 / 10
- ClimateShield Index5.6 / 10
Country snapshot
- Capital
- Bridgetown
- Population (approx.)
- 282,000
- Area (km²)
- 431 km²
- Currency code (ISO 4217)
- BBD
- Currency name
- Barbadian dollar
- Main airport IATA code
- BGI
- Airport name
- Grantley Adams International Airport
General facts
- Minimum monthly cost
- From $2,340/month
- Main languages
- English
- Jurisdiction type
- Country
- Region
- Caribbean
- Web TLD
- .bb
- Phone calling code
- +1-246
Web TLD and phone codes are general references and can differ for territories or special numbering plans.
Tax system
- Marginal CIT (corporate income tax)
- 9%Ultra lowWorldwide
- Marginal PIT (personal income tax)
- 28.5%ModerateWorldwide
Corporate taxation basis: Worldwide. The country generally taxes worldwide income of resident companies.
Worldwide taxation for resident and domiciled companies. Companies resident but not domiciled are taxed on Barbados-source income plus foreign-source income remitted to Barbados (statutory remittance basis on foreign profits). Non-resident companies are taxed only on Barbados-source income. The Foreign Currency Permit grants exchange control exemption and indirect tax relief on operational inputs but does not reduce the corporate rate.
Flat 9 percent effective 1 January 2024, replacing the previous sliding scale 5.5 percent to 1 percent. Sectoral exceptions: Insurance Class 1 captives at 0 percent, Class 2 and 3 entities at 2 percent, Patent Box at 4.5 percent, Small Business at 5.5 percent, international shipping on the pre-2024 scale. The Qualified Domestic Minimum Top-Up Tax raises the effective rate to 15 percent for in-scope multinationals above EUR 750 million.
Personal income tax basis. Worldwide. Resident individuals are generally taxable on their worldwide income, subject to relief under applicable tax treaties.
Worldwide for resident and domiciled individuals. Resident but not domiciled individuals are taxed on Barbados-source income plus foreign-source income remitted to Barbados or from which a benefit is derived in Barbados (statutory remittance basis under section 8 of the Income Tax Act). Domicile is determined by intention rather than length of residence, allowing long-term expatriates to retain non-domiciled status indefinitely. 50 percent of royalties received is exempt.
Progressive personal income tax with 12.5 percent on the first (USD 25,000) of taxable income and 28.5 percent above. Personal allowance ( for pensioners aged 60 and over). The Foreign Currency Earnings Allowance grants up to 65 percent rebate on the income tax payable on foreign-source income transferred through the Barbados banking system. No capital gains tax, no inheritance tax, no wealth tax, no gift tax.
Tax percentages here are editorial reference figures for comparison, not individualized tax advice.
Special tax regimes
For companies
Foreign Currency Earnings Allowance (FCEA), Corporate
AvailableTax allowance for entities carrying on business in Barbados whose assessable income is derived from qualifying overseas construction projects or…
Foreign Currency Permit (FCP)
AvailableStatutory permit for Barbadian entities earning 100 percent of their income in foreign currency.
Insurance Class 1 Regime (Captive Insurance, 0 percent)
AvailableInsurance companies licensed as Class 1 under the Insurance Act, Cap.
Insurance Class 2 and Class 3 Regime (Third-Party and Intermediary, 2 percent)
AvailableInsurance companies licensed as Class 2 (underwriting third-party risks) or Class 3 (insurance intermediaries, management companies, and holding…
Patent Box Regime
AvailableIncome derived from qualifying intellectual property is taxed at half the general corporate rate, currently 4.5 percent (one-half of the 9 percent…
Small Business Concessionary Rate (5.5 percent)
AvailableReduced 5.5 percent corporate tax rate for small companies.
International Shipping Concessionary Regime
AvailableInternational shipping companies retain the previous sliding scale corporate tax rates (5.5 percent on the first BBD 1 million, 3 percent on BBD 1…
For individuals
Resident Non-Domiciled Remittance Basis
AvailableStatutory remittance-basis taxation under the Barbados Income Tax Act for individuals who are tax resident in Barbados but not domiciled there.
Foreign Currency Earnings Allowance (FCEA), Individual
AvailableTax allowance reducing income tax payable on foreign-source income by up to 65 percent, available to individuals tax resident in Barbados whose…
You either qualify for Barbados' special tax regimes, or you don't. GeoCompass determines your eligibility, highlights the applicable conditions, and helps estimate your potential tax exposure.
Check my eligibilityVisa and mobility
Your access
Visa need and length of stay for Barbados. Saved on your device.
Overview
- Citizenship by investment
Not currently available
- Residence by investment
Available
- Remote work visa (digital nomad visa)
Available
Programmes
Barbados lists several residency and mobility routes across residence by investment, work (employer sponsored), family and dependant routes, and remote work visas. Lucky Nomads tracks these programmes as editorial reference points. Thresholds, documents, and personal eligibility are evaluated in GeoCompass against your exact profile.
6 programmes listed · 6 are marked available in our editorial review
Residence by investment
2 programmesCapital, property, fund, or declared investment routes that can lead to longer-term residence.
- Available
Special Entry and Reside Permit (SERP) Category 1, High Net Worth Investor
- Available
Special Entry and Reside Permit (SERP) Category 2, Property Owner
Work (employer sponsored)
2 programmesEmployer-linked permits and skilled employment passes for hired professionals.
- Available
Long-Term Work Permit
- Available
Short-Term Work Permit
Family and dependant routes
1 programmeSpouse, dependant, and family reunion style permits.
- Available
CARICOM Enhanced Cooperation Free Movement Regime
Remote work visas
1 programmeRemote work or digital nomad style permits.
- Available
Barbados Welcome Stamp
Not all residency routes are accessible. Some require minimum income, investment thresholds, local substance, or strict eligibility conditions. GeoCompass evaluates which options you can actually secure in Barbados.
Evaluate my residency optionsVisa and programme labels reflect editorial research, not individualized legal advice. Thresholds, documents, and personal eligibility are evaluated in GeoCompass. Always confirm rules with official government sources before you plan a move.
Dimensions breakdown
Strongest dimensions
- English Index8.8 / 10Very strong english index
- GeoStability Index8.8 / 10Very strong geostability index
- Wealth Protection Index8.1 / 10Very strong wealth protection index
Weakest dimensions
- Market Depth Index4.2 / 10
- Flight Index4.5 / 10
Published ranks by index
One row per leaderboard we publish (the composite index plus each proprietary dimension). A rank appears only when this country is currently in the published top 10 for that list. Open a row to see the full ranking. Hover an index name for the same short definition as elsewhere on the site.
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Founder, Lucky Nomads · Wealth manager
Researched from official sources, leading global indices and Lucky Nomads' own scoring.
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